#generational-ownership
#generational-ownership
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#gen-z
Higher education
fromFortune
1 day agoWith entry-level jobs vanishing, Gen Z grads are ditching corporate America-piecing together careers with entrepreneurship, gig work and freelancing | Fortune
Gen Z graduates are increasingly pursuing unconventional employment paths due to a shrinking number of entry-level jobs in the AI age.
Retirement
fromFortune
4 hours agoMilestones like marriage and parenthood are so delayed for millennials and Gen Z many of them are skipping out on life insurance, report finds | Fortune
Gen Z and millennials are delaying major life milestones due to financial constraints and prioritize immediate enjoyment over traditional financial commitments.
#entrepreneurship
Bootstrapping
fromSilicon Canals
1 day agoPeople who start businesses in their 50s and 60s have an advantage no 25-year-old can replicate - they've already failed inside someone else's company on someone else's dime, and every mistake they watched a boss make is a mistake they'll never repeat, and that accumulated library of other people's errors is worth more than any startup capital because it buys something money can't - Silicon Canals
Experience and lessons learned over decades provide a significant advantage in entrepreneurship compared to starting young.
Silicon Valley food
fromEntrepreneur
1 day agoThis 34-Year-Old's $5K-a-Month Side Hustle Started With a Family Tradition - Now It's On Track for $100K in Its First Year: 'Not Just a Product, It's a Legacy'
Chanya Laosrimongkol's Bangkok Bites, inspired by her Thai heritage, is projected to generate $100,000 in revenue by 2026.
Bootstrapping
fromSilicon Canals
1 day agoPeople who start businesses in their 50s and 60s have an advantage no 25-year-old can replicate - they've already failed inside someone else's company on someone else's dime, and every mistake they watched a boss make is a mistake they'll never repeat, and that accumulated library of other people's errors is worth more than any startup capital because it buys something money can't - Silicon Canals
Experience and lessons learned over decades provide a significant advantage in entrepreneurship compared to starting young.
Silicon Valley food
fromEntrepreneur
1 day agoThis 34-Year-Old's $5K-a-Month Side Hustle Started With a Family Tradition - Now It's On Track for $100K in Its First Year: 'Not Just a Product, It's a Legacy'
Chanya Laosrimongkol's Bangkok Bites, inspired by her Thai heritage, is projected to generate $100,000 in revenue by 2026.
fromwww.theguardian.com
2 days agoCampaign launched to reunite young Britons with forgotten savings accounts
Hundreds of thousands of young people in this country don't know they have a CTF, let alone how to access it. Some will have a couple of thousand pounds sat there that would really help them as they begin adult life.
Fundraising
Psychology
fromSilicon Canals
4 days ago5 things people who grew up lower middle class quietly do as adults that look strange until you understand the logic behind them - Silicon Canals
Lower middle class upbringing shapes adults' financial behaviors and anxieties, leading to habits like maintaining hidden emergency accounts.
fromSilicon Canals
1 day agoI'm 66 and I sold the business I built over two decades for more money than I ever thought I'd see - and I spent the first week staring at my bank account trying to figure out why I didn't feel anything, and I finally understood that the money was never the point, the building was the point, and once it was gone I had to meet the version of myself who wasn't building something anymore - Silicon Canals
The money was supposed to feel like something. You work your whole life thinking about the payoff. The day you can finally relax. The moment you don't have to worry about making payroll or whether that big invoice will come through.
Retirement
fromwww.businessinsider.com
1 week agoI used an $80,000 inheritance from my uncle to start a business. Years later, we're approaching $1 million in revenue.
When I made it through the initial months of the pandemic working in luxury retail, I thought I was safe. I even spent some money on renovating my deck and outdoor space at home. I was stunned when, in September 2020, my position was eliminated.
Real estate
fromSubstack
2 weeks agoTax Day Confessions, The Upper Middle Class Trap, and the SpaceX IPO - Episode 185
Financial planners face numerous challenges during tax season, including correcting misclassified stock options and saving clients substantial amounts that tax software inaccurately calculated. These experiences highlight the complexities of tax filing and the importance of professional guidance.
Retirement
Psychology
fromSilicon Canals
2 weeks agoI grew up in a house where money was discussed in whispers and spent in silence, and it took me thirty years to understand that the secrecy wasn't about the money. It was about the shame. And by the time I realized those were different things, I had already inherited both. - Silicon Canals
Secrecy about finances in families often stems from shame rather than a lack of information, impacting children's understanding of money.
Retirement
fromFortune
2 days agoNearly half of working-age Americans don't have a retirement account-even 40% of workers nearing their 60s don't have any money stored away | Fortune
Many American workers lack retirement savings, with nearly half of private sector employees without a retirement account.
#retirement-planning
Retirement
fromFortune
2 weeks agoGen Z are already more bullish than millennials about early retirement-and many think they can quit work for good with just $500,000 | Fortune
Gen Z and millennials are planning for retirement with ambitious savings goals, but many may face challenges in achieving them.
Psychology
fromSilicon Canals
3 weeks ago9 subtle behaviors that reveal someone grew up in a household where money was discussed in whispers, and why those behaviors persist long after financial security has arrived - Silicon Canals
Financial behaviors are shaped by early experiences and trauma, not just knowledge or information gaps about money.
Higher education
fromFortune
2 weeks agoGen Z is rewriting the American Dream, and their parents are funding it-using tuition money for down payments, instead | Fortune
Parents are prioritizing homeownership over college tuition for their children due to rising costs and uncertain returns on education.
Psychology
fromSilicon Canals
3 weeks agoPeople who grew up calculating whether they could afford both the drink and the entree before anyone else sat down don't stop doing that math when they earn six figures. The arithmetic isn't financial anymore. It's a loyalty ritual to a younger version of themselves who promised never to be caught without an exit. - Silicon Canals
Child poverty in the U.S. leads to adult poverty more than in Denmark, Germany, the UK, or Australia, with lasting effects beyond financial circumstances.
Careers
fromSilicon Canals
3 weeks agoThe most profound disconnect between boomers and younger generations isn't about avocado toast or laziness - it's that boomers inherited an economy designed to reward time invested, while millennials and Gen Z are navigating one that rewards attention captured, and the skill sets don't translate - Silicon Canals
Generational tension arises from differing economic realities between baby boomers and younger generations, affecting perceptions of work and success.
London politics
fromwww.theguardian.com
1 month agoGenerational divide isn't as wide as you think | Letters
Intergenerational narratives are more complex than surface-level rivalry suggests, with significant commonalities between generations but stark inequality emerging around climate change and economic opportunity.
Silicon Valley
fromSilicon Canals
2 months ago8 habits that seem financially responsible but are actually the exact things keeping lower middle class families stuck forever - Silicon Canals
Many commonly taught 'responsible' money habits—obsessing over small savings, buying cheap items, and prioritizing frugality—sabotage wealth building and income growth.
fromThe Art Newspaper - International art news and events
2 months agoAs the 'great wealth transfer' gets underway, what are the current inheritance tax rules?
"We are still in the early days of the so-called great wealth transfer," says the lawyer Pierre Valentin, the joint head of art law at Fieldfisher. "The wave started in the US with the sale of collections such as those of Sydell Miller, Mica Ertegun and more recently, Leonard Lauder. The wave is coming to Europe, for example with the auction of the collection of Pauline Karpidas [last] September. I expect that there will be many more of those 'white glove' sales in the next 10 to 15 years because younger collectors collect differently from their parents and grandparents."
Law
fromFortune
1 month agoThe Great Wealth Transfer is already happening as millennials hitting their 'Peak 35' are richer than ever | Fortune
I think the beautiful part about the 'Peak 35' is it puts us in a position that many generations haven't been in before. When you start to think about this Great Wealth Transfer, yes, assets have been transferred before, but never to the extent that we see it now and never as intentional as we've seen it now.
Miscellaneous
Mindfulness
fromSilicon Canals
2 months ago7 things working-class people do with money that wealthy people secretly wish they'd learned - Silicon Canals
Working-class people track every penny, find joy without spending, prioritize essentials, avoid lifestyle inflation, and build financial resilience through discipline and resourcefulness.
Fundraising
fromSilicon Canals
1 month agoI've been putting money into my daughter's savings account every month for 22 years without telling her - and the plan was always to give it to her when she needed it most, but the thing nobody warns you about secret generosity is that you start to need the secret more than she needs the money - Silicon Canals
A father's twenty-two-year secret savings account for his daughter evolved from genuine protection into a source of personal identity and validation, revealing how hidden acts of care can become about the giver rather than the recipient.
Relationships
fromPsychology Today
1 month agoOur Parents Don't Have 401(k)s, They Have Children
Immigrant parents prioritized investing in their children's education and opportunities over personal retirement savings due to economic constraints and survival needs, creating an implicit expectation that the next generation would provide financial support.
Bootstrapping
fromBusiness Matters
1 month agoThe Great Handover: How the Baby Boomer Exit Is Reshaping Business Ownership
Millions of baby boomer business owners are simultaneously approaching retirement, triggering the largest intergenerational transfer of private business assets in modern economic history, fundamentally reshaping private ownership structures.
Relationships
fromBusiness Insider
2 months agoI'm wealthy thanks to an inheritance and good investments. My friends aren't, and it's straining our friendship - what do I do?
Remain empathetic, set firm boundaries, decline loan requests, and offer nonfinancial support while protecting personal finances and preserving relationships.
Careers
fromSlate Magazine
1 month agoI Saw Firsthand What Having a Small Business Does to a Family. From That Moment On, I Made a Vow. Now I'm Rethinking Everything.
A person reconsidering entrepreneurship after witnessing family sacrifices must distinguish between genuine interest and nostalgia, then explore whether alternative business models could provide autonomy without excessive demands.
Relationships
fromSlate Magazine
1 month agoMy Parents Asked Me About Their Plan to Leave Their Estate to My Brother. They Hated My Answer.
Parents who solicit input on estate distribution should accept the recipient's honest suggestions without anger, even when disagreeing with the proposed allocation.
Parenting
fromSlate Magazine
2 months agoWe're Giving Our Son Something Most of His Friends Could Never Dream of Having. Uh, Now He Wants to Know Why.
Explain financial advantage as privilege, name other forms (race, ability, gender), and have simple, age-appropriate conversations to foster understanding and empathy.
fromBusiness Matters
1 month agoThe Benefits Of Starting A Small Business In Your Golden Years
Turning skills into a fulfilling and profitable venture is a natural next step for active seniors. The transition offers a way to monetize years of dedication and hard work. Creating a business plan for a hobby allows for a low-stress entry into the market. You already understand the product or service better than most competitors.
Retirement
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